Citadele Bank

82% of Planned Compensation for Individual Snoras Bank Clients in Latvia Paid Out in Four Weeks

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During the four weeks between December 15 and January 12, individual clients of the Latvian branch of Snoras Bank received compensation of LVL 2.2 million, which represented 82% of the total sum guaranteed by the Lithuanian government for this purpose. During the course of the month, 182 individual clients of the Latvian branch of Snoras received the compensation - 64% of the total number of clients.

75% of the compensation was paid out via a transfer to a client account at Citadele or any other bank.

As announced, the Lithuanian Deposits and Investments Insurance Fund decided to assign the task of paying out compensation to individual clients of Snoras in Latvia to the Citadele Bank. Legal entities, in turn, are able to receive compensation via AS UniCredit Bank.

Money for the compensation comes from the Lithuanian Deposits and Investments Insurance Fund “Indeliu ir Investiciju draudimas”, and it does not depend on Citadele Bank operations and vice versa. The bank is merely an instrument for the payment of the compensation.

Clients can receive their guaranteed compensation in lats and in a single payment.

Compensation is available both to residents and non-residents who are clients of the Snoras Bank’s branch in Latvia. According to Lithuanian law, Snoras clients are able to receive guaranteed compensation up to EUR 100,000 (about LVL 70,000).

People who receive compensation can choose to have it transferred to an account at Citadele Bank or any other bank, or to have it paid out in cash.

Those clients who use the Citadele online banking are able to file instructions on the payment of compensation via online banking. Such compensation can be transferred to an account at Citadele Bank or at any other bank.

Those people who do not use Citadele online banking services have to visit Citadele Bank headquarters at Republikas Square 2A, Riga, bringing along a passport for identification purposes. If a representative of a client comes to the bank, then he or she will have to bring also notarised authorisation. People can register for a visit at www.citadele.lv in order to avoid a queue in the process.

According to Lithuanian law, clients retain the right to compensation for a period of five years.

More information for individual clients: Citadele Bank’s Customer Support Centres 24/7 hotline + 371 67010000; www.citadele.lv.

More information for legal entities: UniCredit Bank’s hotline +371 67085569; www.unicreditbank.lv.